Industry Highlights – Week Ending 19.04.2025
Housing Finance Partnership with International Housing Solutions (IHS)
Housing Finance Company Kenya, a leading financial institution, announced its partnership with International Housing Solutions (IHS) to support the development of the Muzi Salama green affordable housing project in Kenya. HFC will offer accessible financing solutions for purchasing eco-friendly homes within the Muzi Salama project, providing sustainable and affordable homeownership opportunities for Kenyans.
Source: Housing Finance Kenya
Absa Bank Kenya has introduced an enhanced home loan solution offering 110% financing to address home affordability and access challenges in Kenya. The facility covers the full property cost plus associated fees like stamp duty, legal fees, and valuation charges, reducing buyers’ upfront financial burdens. It is available at competitive interest rates with a repayment period of up to 25 years, and it is open to salaried individuals, small and medium enterprises (SME) owners, and Kenyans in the diaspora for both direct purchases and remortgaging.
Source: The Standard Digital
Cooperative Bank partnership with Finsco Africa
The Co-operative Bank of Kenya and Finsco Africa signed a Memorandum of Understanding (MoU) to collaborate to enhance access to financial solutions and drive investment in Kenya’s real estate sector. The partnership aims to open opportunities for individuals, investors, and developers by financing property ownership, construction, and investment ventures.
Source: kbc Digital
REITS 2024 Annual Performance Snapshot
The Real Estate Investment Trusts (REITs) Association of Kenya has unveiled its 2024 annual performance snapshot, highlighting significant net profit growth across the sector as follows:
Acorn D-REIT recorded a net profit of Ksh 839.0 million in 2024, up from Ksh 71.0 million the previous year. This profit was attributable to fair value gains from ongoing projects that are on track.
Acorn I-REIT recorded a 92 % growth in operating profit to Ksh 652.0 million in 2024 from Ksh 340.0 million in 2023, supported by effective cost management, efficiency in operations, and strong brand positioning that has facilitated stability in rental rates.
Excise Duty (Amendment) Bill, 2025
Legislators in Kenya have voted to eliminate excise duty on imported transformers and parts, aligning with the 2010 Constitution’s goal of ensuring access to affordable electricity. The National Assembly passed the Excise Duty (Amendment) Bill, 2025, which removes the 25% excise duty on imported fully assembled transformers and parts to lower electricity connection costs for consumers, including individual homes and businesses.
Source: Business Daily
Titles tainted by fraud? Why the good faith doctrine will no longer be a defense
The Kenyan Supreme Court has delivered a groundbreaking ruling on land ownership, declaring that titles acquired through fraudulent means are not protected under the “good faith” doctrine, even if the buyer was unaware of the fraud. The court emphasised that fraud nullifies all transactions, prioritising public interest and justice over individual claims, which ends long-standing legal protections for innocent buyers.
Source: The Daily Nation
